Budget Rent a Car Corp. said it...

Budget Rent a Car Corp. said it hired financial advisers to explore ways of raising the value of the firm, which might include its possible sale. Chicago-based Budget, the nation’s third-largest car rental firm, retained Morgan Stanley & Co. to investigate possible alternatives, and hired Drexel Burnham Lambert Inc. to advise management. In a statement, Budget President Clifton Haley said the company’s decision reflects the board’s belief that the market price for Budget does not adequately reflect Budget’s value. The stock, traded over-the-counter, rose $2.625 a share to $14.25. Haley offered few details, saying only that no changes in Budget’s management or operations were planned and that no sale would be made until Morgan Stanley completed its evaluation.